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Stocks - Pfizer, Raytheon Rise Premarket, McDonald's Falls

Published 07/28/2020, 08:10 AM
Updated 07/28/2020, 08:11 AM
© Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Tuesday, July 28th. Please refresh for updates.

  • Pfizer (NYSE:PFE) stock rose 2.8% after the pharmaceutical company raised its guidance for the full year, after its revenue and profit fell by less than expected in the second quarter. Pfizer and Biontech (NASDAQ:BNTX), up 3.4%, had said late Monday that they have started a late-stage clinical trial for one of their Covid-19 vaccine candidates, involving 30,000 people around the world.

  • 3M (NYSE:MMM) stock fell 2.8% after the industrial giant reported a 12% drop in quarterly revenue, as results were "significantly impacted" by the Covid-19 pandemic.

  • Raytheon Technologies (NYSE:RTX) stock rose 3% after the company reported better than expected second-quarter numbers, helped by a "good performance" in its defense business.

  • McDonald’s (NYSE:MCD) stock fell 4.3% after the fast food giant disappointed with its second-quarter results, as a sharp drop in its overseas sales weighed on earnings.

  • Harley-Davidson (NYSE:HOG) stock fell 4.9% after it unexpectedly swung to a loss in the second quarter as coronavirus shutdowns hit motorcycle sales.

  • Tesla (NASDAQ:TSLA) stock fell 2.3%, handing back some of Monday’s 8.7% gain, after Bernstein downgraded the stock to ‘underperform’, saying “we find it difficult to justify Tesla's current valuation even under our most bullish/imaginative scenario.”

  • S&P Global (NYSE:SPGI) stock rose 0.4% after its revenue grew 14% in the second quarter, as the pandemic led to a surge of corporate bond issuance.

  • DR Horton (NYSE:DHI) stock rose 3.1% after the home construction company reported a 33% rise in fiscal third-quarter profit, despite uncertainty due to the pandemic.

  • Eastman Kodak (NYSE:KODK) stock soared 203% after the one-time photography leader announced it had received a $765 million government loan to help expedite domestic production of some drugs. 

  • Altria (NYSE:MO) stock rose 1.5% after the tobacco producer lifted its quarterly dividend and introduced new guidance after its second-quarter earnings topped expectations.
  • Reckitt Benckiser ADR (OTC:RBGLY) rose 0.6% after the maker of Lysol reported booming sales of disinfectants in the wake of the pandemic.
  • Shopify (NYSE:SHOP) stock rose 2.8% after Goldman Sachs (NYSE:GS) upgraded its stance to buy, after missing the stock's hefty gains this year.

 

Latest comments

Wow, turns out lobbying to have the president and everyone in his administration bring up your name every five minutes turns a profit, Pfizer. The billions of taxpayer theft in the form of “research grants” for a product you’ll gouge us on in the end couldn’t hurt either. It’s Gilead all over again.
Amazing high earning coming out this quarter. Thought we would have to wait for 3rd quarter!
Starting to See all the Disappointing Earnings Come In.
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